Banks' deposits at ECB hit another record

Posted by BankInfo on Tue, Jan 17 2012 07:43 am

Banks' deposits with the European Central Bank have hit yet another record, data showed Monday, suggesting ongoing tension in the financial system despite unprecedented liquidity injections.

Banks in the eurozone put 493.3 billion euros ($623.7 billion) on deposit for 24 hours at the ECB overnight Sunday, topping the record set Friday of 489 billion euros.

Since December new records for deposits have regularly been set, seen by some as a possible sign of market tensions since the money deposited earns interest of 0.25 per cent, much less than the rate available on the interbank market.

The Daily Sun/Bangladesh/ 17th Jan 2012

Posted in Banking, News

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